Finding inventory in a limited market isn’t easy! With inventory levels at historic lows, and rates and buyer demand soaring, you can’t rely on just the MLS feed to find your next luxury home. You can see how dire this situation is just by looking at the graph showing historic inventory levels for the last 13 years. Clearly more aggressive strategies need to be taken to find the right home that you’re looking for. But what can be done? Here are some clear, east-to-use tips for finding the right luxury home in a low inventory market.
Tap Into the Sprague Pipeline
Every week we are regularly listing beautiful homes for sale in Edina, Minneapolis and Southwest suburbs on JoshSprague.com. By visiting our website, you are able to view many different properties actively for sale, as well as preview properties that will be coming to the market soon. Subscribe to our real estate blog to get notified of new and upcoming homes for sale. On our website, we also have listing pages and blog posts that talk about each listing and unique property features in detail. On the property pages, we also have high quality digital photo galleries and videos that show off the home, as well as the surrounding neighborhood, parks, lakes, and community. A great example of this would be our home video for 3248 Dupont. If you still haven’t found a property, you can visit our property search page where you can search the entire MLS for exactly the type of property you are looking for. Search by price, location, home type, size, bedrooms, baths, and more.
Leverage The Sotheby’s Network
Every week our Lakes Sotheby’s offices in Edina and Wayzata send out a list of pre-mls and non-mls listings. These cover the hottest markets like Edina, Lake Minnetonka, and Minneapolis. Most of the pre-mls listings come out 4-6 weeks before the actual listing hits the MLS. So you have an advantage working with a Lakes Sotheby’s agent. Moreover, we have the highest quality properties on the market in every price category, including the upper bracket! So collaborating with Sotheby’s is a key strategy in finding inventory in a limited market.
Deep Dive the Neighborhood
When we are finding inventory for clients in a limited market, we have to go beyond the call of duty. Sometimes we will mail an entire neighborhood when a client tells us they are looking for a new home there. If the client tells us what they need, we can use our marketing force to uncover potential home sellers and off market listings. Just last week we did this for a client looking for a one level townhouse in a luxury subdivision. We got three calls back in response to our mailing and networking efforts! Most importantly, our client got to see the home and consider an offer on it! As one of the best real estate agents in Edina, I provide full-service Buyer and Seller representation. I have nearly 20 years experience and specialize in the Edina, Minneapolis, and Southwest metro housing markets. I have the experience, connections, and drive to find homes for you under any market conditions. Contact me anytime and we will work on more solutions for finding inventory in a limited market!